StockMarketWire.com - CentralNic's revenues rose by 113% to £22.1m in the year to the end of December.

Adjusted EBITDA increased by 68% to £5.5m and adjusted pre-tax profits were up 60% at £4.7m.

Chairman Mike Turner said: "In my first full year as chairman of the CentralNic group I have been pleased with the group's strategic development.

"We now have a more diverse business active in the majority of the world's geographic markets, notably with expansion of our retail services following the acquisition of the Instra Group.

"This is important to the future of our business, not least in providing a strong and comprehensive retail capability in close geographic proximity to emerging domain name markets, notably in the Asia Pacific region.

"Another significant development during 2016 was the increased adoption of domain names from the new Top Level Domain name programme.

"The new TLD programme is regarded as the biggest change in our industry for many years.

"It is particularly pleasing that, as a result of the first application round of new TLDs, CentralNic is contracted as registry service provider to some of the most successful new TLDs, including the leader by volume, .xyz.

"The enterprise division presents interesting opportunities to grow revenues at relatively high margins by adopting a more service-led approach.

"In seeking to unlock the potential of our corporate-facing business, I am pleased we have recently been able to strengthen our management team with senior commercial hires, bringing considerable experience in this market segment.

"The amount of change in the business is significant, with activity levels high across each of our three divisions and with our mergers and acquisitions programme continuing to bring benefits and present new and interesting opportunities to the group.

"With continued progress in all areas of our business, at this stage of the year we remain confident in the outlook for 2017."

Separately, CentralNic announced that Sarah Ryan had been appointed as group corporate development director.

She was formerly director of international M&A for LexisNexis and Thomson Financial.

In these roles, she led transaction due diligence and structured complex deal terms globally, including deals in the Middle East, Russia, China, India, South Africa and Europe.

CentralNic chief executive Ben Crawford said: "With mergers and acquisitions playing a key role in our strategic plans moving forward, we are delighted to have an executive of Sarah's calibre joining us in this key position."




At 8:19am: [LON:CNIC] Centralnic Group Plc share price was +0.25p at 46.75p



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